India to issue draft e-commerce policy in a few weeks- govt source

Reuters Staff

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NEW DELHI, Dec 27 (Reuters) - India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

The new e-commerce policy could entail provisions for a regulator in the sector dominated by U.S. tech giant Amazon.com and homegrown Flipkart, which was bought over by retail giant Walmart for $16 billion earlier this year.

India on Wednesday introduced changes to foreign direct investment rules, banning e-commerce players from selling products from entities in which they have an equity interest, a move the source said was aimed at preventing anti-competitive practices.

The source declined to be named as the matter was not public. (Reporting by Aftab Ahmed; Writing by Sankalp Phartiyal; Editing by Subhranshu Sahu)